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Diana Shipping extends time charter contract with Uniper for m/v Electra

Published by , Assistant Editor
Dry Bulk,

Yesterday, through a separate wholly-owned subsidiary, Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, agreed to extend the present time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its post-panamax dry bulk vessels, the m/v Electra. The gross charter rate is US$13 500/d, minus a 5% commission paid to third parties, for a period until minimum 15 September 2019 and maximum 15 December 2019. The new charter period commenced on 19 October 2018. The m/v Electra was chartered, as previously announced, at a gross charter rate of US$8000/d, minus a 5% commission paid to third parties.

The “Electra” is a 87 150 DWT post-panamax dry bulk vessel built in 2013.

The employment extension of Electra is anticipated to generate approximately US$4.40 million of gross revenue for the minimum scheduled period of the time charter extension.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 newcastlemax, 14 capesize, 5 post-panamax, 5 kamsarmax and 22 panamax). Following this announcement, the combined carrying capacity of the company’s fleet is approximately 5.8 million DWT with a weighted average age of 9.17 years.

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